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Tax Reform

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The law will cost approximately $1.5 trillion over the next decade and deliver windfall gains to wealthy households and profitable corporations, further widening the gap between those at the top of the income ladder and the rest of the nation.

Policy Basics

The 2017 tax law is fundamentally flawed: it will cost about $1.9 trillion over the next decade and deliver windfall gains to wealthy households and profitable corporations.

Policymakers should consider ways to reverse the damage and craft meaningful tax reform that eliminates various loopholes, shelters, and gaming opportunities, raises much-needed revenue, and is more favorable to households with low or modest incomes.